Informed Momentum Co LLC Sells 104,269 Shares of AvePoint, Inc. (NASDAQ:AVPT)

Key Points

• Informed Momentum Co LLC reduced its holdings in AvePoint, Inc. by 37.7%, owning approximately $2.49 million worth of shares after selling 104,269 shares in the first quarter.
• A number of research analysts have positive assessments for AvePoint, with ratings ranging from a "buy" to a "strong-buy", and a consensus target price currently set at $19.25.
• AvePoint's stock performance has seen a 52-week low of $10.27 and a high of $20.25, and it currently trades around $14.90.

Informed Momentum Co LLC decreased its position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) by 37.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 172,660 shares of the company's stock after selling 104,269 shares during the period. Informed Momentum Co LLC owned about 0.09% of AvePoint worth $2,493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in AVPT. Principal Financial Group Inc. boosted its position in AvePoint by 5.9% in the first quarter. Principal Financial Group Inc. now owns 78,396 shares of the company's stock valued at $1,132,000 after buying an additional 4,348 shares in the last quarter. Northern Trust Corp boosted its position in AvePoint by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,160,554 shares of the company's stock valued at $19,161,000 after buying an additional 99,725 shares in the last quarter. Two Sigma Investments LP boosted its position in AvePoint by 155.5% in the fourth quarter. Two Sigma Investments LP now owns 108,192 shares of the company's stock valued at $1,786,000 after buying an additional 65,852 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in AvePoint by 8.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,475 shares of the company's stock valued at $222,000 after buying an additional 1,042 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in AvePoint by 282.9% in the fourth quarter. Ameriprise Financial Inc. now owns 45,751 shares of the company's stock valued at $755,000 after buying an additional 33,801 shares in the last quarter. Institutional investors and hedge funds own 44.49% of the company's stock.

AvePoint Stock Up 2.5%

AVPT stock traded up $0.37 during trading on Friday, reaching $15.03. The stock had a trading volume of 1,702,528 shares, compared to its average volume of 1,676,859. AvePoint, Inc. has a one year low of $10.65 and a one year high of $20.25. The company's 50 day moving average is $18.19 and its two-hundred day moving average is $17.21. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -300.54 and a beta of 1.35.

Wall Street Analyst Weigh In

AVPT has been the topic of a number of recent research reports. Cantor Fitzgerald upgraded shares of AvePoint to a "strong-buy" rating in a report on Friday, July 25th. The Goldman Sachs Group boosted their target price on shares of AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Scotiabank lifted their price target on shares of AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research note on Friday, May 9th. Finally, Jefferies Financial Group initiated coverage on shares of AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, AvePoint has a consensus rating of "Moderate Buy" and an average price target of $19.25.

Insider Transactions at AvePoint

In other news, Director Jeff Epstein sold 500,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the sale, the director owned 1,157,891 shares in the company, valued at approximately $21,733,614.07. This trade represents a 30.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.74, for a total transaction of $655,900.00. Following the sale, the insider owned 1,190,443 shares in the company, valued at approximately $22,308,901.82. This trade represents a 2.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 605,000 shares of company stock valued at $11,315,600 over the last ninety days. 26.19% of the stock is currently owned by insiders.

AvePoint Company Profile

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.